Skyward Specialty Insurance Group (NASDAQ:SKWD) Stock Price Down 4.2% – Time to Sell?

Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) traded down 4.2% on Thursday . The company traded as low as $42.10 and last traded at $41.99. 52,273 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 312,041 shares. The stock had previously closed at $43.83.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SKWD shares. Raymond James boosted their price objective on Skyward Specialty Insurance Group from $45.00 to $55.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 5th. Barclays increased their price objective on Skyward Specialty Insurance Group from $45.00 to $53.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. JMP Securities lifted their price objective on Skyward Specialty Insurance Group from $50.00 to $53.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Skyward Specialty Insurance Group from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, TD Cowen started coverage on shares of Skyward Specialty Insurance Group in a research report on Monday, January 13th. They set a “hold” rating and a $43.00 price target for the company. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.22.

Skyward Specialty Insurance Group Price Performance

The firm has a 50-day moving average of $49.78 and a 200-day moving average of $44.16. The stock has a market cap of $1.70 billion, a PE ratio of 12.93, a PEG ratio of 0.73 and a beta of 0.89.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its earnings results on Tuesday, October 29th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. The firm had revenue of $300.89 million for the quarter, compared to analysts’ expectations of $292.43 million. Skyward Specialty Insurance Group had a return on equity of 16.39% and a net margin of 12.24%. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Equities analysts forecast that Skyward Specialty Insurance Group, Inc. will post 3.07 EPS for the current fiscal year.

Insider Activity

In related news, Director James Charles Hays sold 25,000 shares of Skyward Specialty Insurance Group stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the director now owns 747,261 shares of the company’s stock, valued at $40,352,094. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas N. Schmitt sold 637 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $47.81, for a total transaction of $30,454.97. Following the transaction, the insider now directly owns 10,792 shares of the company’s stock, valued at approximately $515,965.52. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,318 shares of company stock worth $2,098,866. Corporate insiders own 8.01% of the company’s stock.

Institutional Trading of Skyward Specialty Insurance Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new stake in Skyward Specialty Insurance Group in the 3rd quarter valued at $41,000. Amalgamated Bank grew its holdings in shares of Skyward Specialty Insurance Group by 27.7% during the 2nd quarter. Amalgamated Bank now owns 1,285 shares of the company’s stock worth $46,000 after purchasing an additional 279 shares during the period. Quarry LP raised its stake in shares of Skyward Specialty Insurance Group by 176.9% in the 3rd quarter. Quarry LP now owns 1,376 shares of the company’s stock valued at $56,000 after acquiring an additional 879 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of Skyward Specialty Insurance Group during the 4th quarter worth approximately $61,000. Finally, CWM LLC increased its holdings in Skyward Specialty Insurance Group by 3,103.1% in the 3rd quarter. CWM LLC now owns 4,132 shares of the company’s stock valued at $168,000 after purchasing an additional 4,003 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

About Skyward Specialty Insurance Group

Skyward Specialty Insurance Group, Inc, an insurance holding company, underwrites commercial property and casualty insurance products in the United States. It offers general liability, excess liability, professional liability, commercial auto, group accident and health, property, surety, and workers' compensation insurance products.